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AP and Tom Callen reportingThe number of single-family homes sold in Salt Lake County dropped 40 percent in the fourth quarter of 2007, compared to the same period a year earlier.
The Salt Lake Board of Realtors released the numbers Thursday. It said 2,142 homes were sold in the last three months of the year.
There were 11,622 single-family homes sold in Salt Lake County in 2007, down 23.5 percent from 2006.
Jillinda Bowers, president of the Salt Lake Board of Realtors, says speculation has raised the price of homes.
Some say it is a reality check. Wells Fargo Chief Economist Kelly Matthews says prices need to reflect actual Salt Lake paychecks.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
